Commerce Bank Sells 98 Shares of Marathon Petroleum Co. (NYSE:MPC)

Commerce Bank trimmed its stake in Marathon Petroleum Co. (NYSE:MPC) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,904 shares of the oil and gas company’s stock after selling 98 shares during the period. Commerce Bank’s holdings in Marathon Petroleum were worth $5,327,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Marathon Petroleum in the fourth quarter worth $25,000. Bruce G. Allen Investments LLC acquired a new position in Marathon Petroleum in the fourth quarter worth $32,000. Bare Financial Services Inc acquired a new position in Marathon Petroleum in the fourth quarter worth $32,000. Manchester Capital Management LLC boosted its stake in Marathon Petroleum by 97.2% in the fourth quarter. Manchester Capital Management LLC now owns 215 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 106 shares in the last quarter. Finally, Pittenger & Anderson Inc. acquired a new position in Marathon Petroleum in the fourth quarter worth $36,000. 76.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 1,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $170.35, for a total value of $170,350.00. Following the completion of the sale, the director now directly owns 23,446 shares in the company, valued at $3,994,026.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

MPC has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price objective on Marathon Petroleum from $214.00 to $227.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. StockNews.com lowered Marathon Petroleum from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 9th. TD Cowen upped their price target on Marathon Petroleum from $168.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Piper Sandler cut their price target on Marathon Petroleum from $204.00 to $190.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 14th. Finally, Scotiabank upped their price target on Marathon Petroleum from $175.00 to $207.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Marathon Petroleum has a consensus rating of “Moderate Buy” and an average price target of $190.77.

Marathon Petroleum Trading Up 0.7 %

NYSE:MPC opened at $177.80 on Friday. Marathon Petroleum Co. has a 1-year low of $104.32 and a 1-year high of $221.11. The business’s 50-day moving average price is $194.16 and its two-hundred day moving average price is $171.12. The company has a current ratio of 1.43, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $62.64 billion, a price-to-earnings ratio of 8.88, a PEG ratio of 1.49 and a beta of 1.55.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.25. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The firm had revenue of $32.71 billion for the quarter, compared to analyst estimates of $32.07 billion. During the same quarter in the prior year, the firm posted $6.09 earnings per share. The company’s quarterly revenue was down 6.2% on a year-over-year basis. On average, equities analysts expect that Marathon Petroleum Co. will post 19.88 earnings per share for the current year.

Marathon Petroleum announced that its Board of Directors has initiated a stock repurchase program on Tuesday, April 30th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the oil and gas company to purchase up to 7.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be issued a $0.825 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $3.30 annualized dividend and a dividend yield of 1.86%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 16.48%.

About Marathon Petroleum

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.